Credit Suisse Says India’s Sensex Target for 2013 Is 13,500
Credit Suisse Group AG’s target for the BSE India Sensitive Index is 13,500 for the year ending in March 2013, Neelkanth Mishra, director of equity research at the brokerage, told reporters in Mumbai today.
Companies in the measure may trade at 11 times to 12 times estimated earnings in the 2013 financial year, Mishra said.
The 30-stock index rose 0.4 percent to 16,877.06 at the 3:30 p.m. close in Mumbai. Companies in the measure trade at 14.5 times future earnings, near the lowest level since May 2009, data compiled by Bloomberg show.
To contact the reporter on this story: Santanu Chakraborty in Mumbai at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com